CORRECT: Men's Wearhouse profit rises

CHICAGO (MarketWatch) -- Men's Wearhouse Inc.
MW
on Wednesday posted fourth-quarter earnings of $32.7 million, or 60 cents a share, compared with $25 million, or 45 cents a share, in the year-ago period. Analysts, on average, were expecting the company to post a profit of 53 cents a share, according to Thomson First Call. For the fiscal year ending Feb. 3, 2007, the company expects GAAP and adjusted earnings per share in a range of $2.28 to $2.35 based on 2% to 4% same store sales increases in the U.S. and Canada. Separately, the company said February sales at U.S. stores open at least one year rose 0.9%. The company said that after Aug. 2, 2006, it will no longer provide monthly updates of its consolidated sales and same store sales results. However, the company will initiate a practice of providing a one-time update of earnings per share guidance after the end of the second retail sales period in each fiscal quarter. (Corrects February sales increase to 0.9%)

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